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Post# of 75002
Section 8.- OTHER EVENTS
Item 8.01 Other Events.
COVID-19 – Quarterly Report for 3 Months ended March 31, 2020
As result of the global outbreak of the COVID-19 virus, on May 14, 2020 the Company evaluated its ongoing effort to prepare and file its quarterly report on Form 10-Q for the quarter ended March 31, 2020.
Due to disruptions caused by the COVID-19 outbreak and related work and travel restrictions, certain Company officers and management as well as professional staff and consultants have been delayed in conducting the work required to prepare our financial report for the quarter ended March 31, 2020. As a result, the Company expects to be unable to compile and review certain information required in order to permit the Company to file a timely and accurate quarterly report on Form 10-Q for its quarter ended March 31, 2020 by the prescribed date without unreasonable effort or expense due to circumstances related to COVID-19.
On March 25, 2020 the Securities and Exchange Commission (the "SEC" issued an Order under Section 36 (Release No. 34-88465) of the Securities Exchange Act of 1934 ("Exchange Act" granting exemptions from specified provisions of the Exchange Act and certain rules thereunder (the "Order". The Order provides that a registrant (as defined in Exchange Act Rule 12b-2) subject to the reporting requirements of Exchange Act Section 13(a) or 15(d), and any person required to make any flings with respect to such a registrant, is exempt from any requirement to file or furnish materials with the Commission under Exchange Act Sections 13(a), 13(f), 13(g), 14(a), 14(c), 14(f), 15(d) and Regulations 13A, Regulation 13D-G (except for those provisions mandating the fling of Schedule 13D or amendments to Schedule 13D), 14A, 14C and 15D, and Exchange Act Rules 13f-1, and 14f-1, as applicable, where certain conditions are satisfied.
The Company is relying on the Order for filing of this Form 8-K and expects to file its quarterly report on Form 10-Q for the quarter ended March 31, 2020 within 45 days after May 15, 2020.
The Company has previously supplemented its risk factors to address certain risks presented by the COVID-19 outbreak as set forth in its Current Report on Form 8-K filed March 30, 2020, which is hereby incorporated by reference.